Monday, April 8, 2013

US Debt Reduction Sequester Tax Solution #42: SubS Corp Income Should Not Be Passive Income

Presently, SubS Corp Income is considered Passive Income, rather than Active Income.  As Passive Income, Passive Losses from activities such as Rental Real Estate can be applied against this SubS Corp Passive Income, thereby reducing the amount of US federal income tax currently owed at the individual level.

I think it is only fair that this loophole be closed and used to reduce US Government Debt.